Now you can buy three-year insurance for your 2-wheelers

[Expert]

Yes, you read it correct. IRDA allows three-year insurance for 2-wheelers. IRDA has made this possible by allowing general insurance companies to offer third party insurance for two-wheelers for a term of up to three years instead of one

year.

How much Premium you have to pay?
Isurers can charge three times the annual third party premium for two-wheelers as prescribed by them. So if you were paying Rs 900/- for one year then now you can pay Rs 2700/- for three years.

From where I can buy this policy?
Please wait, now insurers have to file products and once approved then you can buy these.

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[Matrix]

Do we have simmilar insurance products for Four Wheelers?

[Manish_Kumar]

Do we have simmilar insurance products for Four Wheelers?

You need to wait for four wheelers. IRDA is running a pilot for two wheelers, once it's good to go then you see same is coming for four wheelers.